This article is about the company. For the card it produces and supports, see Octopus card.
Octopus Cards Limited
Company type
Subsidiary
Industry
Payment systems
Predecessor
None
Founded
Hong Kong (1994 (1994))
Headquarters
Hong Kong,
Hong Kong
Area served
Hong Kong, Shenzhen and other major Chinese cities
Key people
Sunny Cheung Yiu-tong (CEO)
Products
Octopus card
Services
Smart card payment systems
Owner
Major transport operators in Hong Kong
Number of employees
200
Parent
Octopus Holdings Limited
Website
www.octopus.com.hk
Octopus Cards Limited (Chinese: 八達通卡有限公司) is the operator of the Octopus rechargeable contactless smart card used in an electronic payment system in Hong Kong.
Octopus Cards Limited is a wholly owned subsidiary of Octopus Holdings Limited. Established in 1994 under the name of "Creative Star" by the major transportation companies in Hong Kong, Octopus Cards Limited is the operator of the Octopus System and the issuer of Octopus.
The Octopus card was introduced in 1997 with the aim of providing a simple way to pay fares on public transport in Hong Kong. Octopus then extended its reach into simple micropayments for purchases in retail outlets and a simple way for cardholders to gain access to buildings and schools and to identify themselves. In January 2002, it was renamed Octopus Cards Limited from Creative Star. Prompted by the business expansion of the Octopus card, Octopus Holdings Limited was formed in 2005 after a company restructure and Octopus Cards Limited became a wholly owned subsidiary of the new company.[1][2] Today, over 440 service providers accept Octopus, and new uses are regularly being added.
Octopus used to have a global reputation of world's leading and most extensive contactless smartcard system with the highest penetration, transaction volume and the widest scope of applications, now turned into an iconic symbol of "yesterday technology" under the rapid trend of mobile payments. [3][4]
^"Our Company". Octopus Holdings Limited. Archived from the original on 17 May 2007. Retrieved 12 July 2007.
^"Operation of the Octopus Card in Hong Kong" (PDF). Hong Kong SAR Legislative Council Secretariat. Retrieved 12 July 2007.
^"People's Daily says 'outdated' Octopus payments highlights Hong Kong's 'economic stagnation'". Hong Kong Free Press. 7 October 2015. Retrieved 2 February 2017.
^"Why the city's iconic Octopus card is so yesterday". EJ Insight. 31 July 2015. Retrieved 2 February 2017.
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